The European Commission\'s Solvency II project for improving the safety of Europe\'s insurance industry will have an enormous impact on the IT systems of insurance companies, Gavin Lavelle, president of insurance technology specialist SunGard Sherwood Systems, told a conference in June.

SAN PEDRO SULA, Honduras, July 12 - It\'s possible that more than 100 countries will adopt the Basel II upgrade of international rules for bank safety, the world\'s top banking supervisor has said.

BRUSSELS, July 9 - The European Commission, the executive arm of the European Union, will continue working with EU member states on preparing the endorsement of the controversial IAS 39 accounting rule, a Commission spokesman said today.

BRUSSELS, July 14 - The European Commission today confirmed that European banks and investment firms will be allowed to operate under current Basel I safety rules until the end of 2007.

MADRID, July 6 - Global banking regulators aim to find a sound solution to the so-called \"double default\" question in the Basel II upgrade of international rules for bank safety as soon as possible and prior to implementation of the rules, the world\'s top banking supervisor said today.

BRUSSELS, July 8 - A key accounting advisory group says it can\'t give any advice to the European Commission on whether to endorse the bitterly disputed IAS 39 accounting rule on valuing financial instruments such as derivative contracts.

LONDON, July 6 - The UK\'s top financial regulator warned that an eleventh hour bid by the European Commission to unblock an impasse with the banking industry over the fraught IAS 39 rule threatens to undermine the goals of new international accounting rules.

LONDON, July 2 - UK regulators today issued new and tighter risk-based rules determining how much capital British life and non-life insurers need to hold in order to bolster their solvency and absorb any losses from the risks of the insurance business.

LONDON, July 15 - The UK isn\'t satisfied with the compromise timetable announced yesterday for bringing the Basel II upgrade of international bank safety rules into effect in Europe - it wants implementation delayed until 2007.

LONDON, July 6 --The European Commission seems almost certain to recommend a \"compromise\" option for the implementation of its capital adequacy directive by the 7,400 banks in its 25 member countries.